The British Embassy in Paraguay has signed an agreement with the Sustainable Finances Roundtable (MSF) to boost climate action and cooperation between the two countries.

The MSF is a Paraguayan platform focused on inciting sustainable action and protecting the environment and is celebrating its 10-year anniversary this year.

Executives of the Paraguayan private banking sector were also present at the signing, as they will be critical in funding many of the projects.

British Ambassador Ramin Navai said: “Laying the foundations for a sustainable future depends not only on governments but also on all sectors, including the financial sector.”

The main focus of the collaboration will be to mobilise cash for green infrastructure and preventative measures.